As a real estate agent, should I invest in an advertising agency?
There comes a time when every agent must ask themselves if investing in an advertising agency is the next logical step. For many agents, it might be financially unfeasible, while for others their growth depends on it.
Knowing when to take the leap isn’t always easy, but we have some questions that we think will help make it clear when it is time to start interviewing prospective advertising agencies.
Do I need a fresh perspective? Knowing your company in and out is important, but when it comes to marketing it can stunt growth. Attempting to handle your own marketing can cost you new opportunities and keep you from making bold moves. Hiring an ad agency can give you new potential solutions, and some out of the box thinking that is just perfect for your business. If the same old is no longer cutting it, hiring a team might be the right solution.
Do I have any spare time? If the last time, you came up for air was a few weeks ago, chances are you are overwhelmingly busy. You likely have an assistant who is just as busy and who can’t focus on marketing you as an agent. Unfortunately, letting your marketing slide means your schedule might be quite empty in the next few months. The time you invest now is the return you will see in the next two to three months.
Can I hire a marketing coordinator? This might be a good solution if you are looking for someone to simply blog and handle social media, but if you are looking for a varied skill set that includes: web, design, photography and more— then one person just won’t do. You’ll need an entire team to back up your marketing strategies. You might also discover that the cost of hiring a new full time employee might be much more than hiring an ad agency. Top-level talent costs money, but an ad agency already has the experts on staff.
Am I ready to take my business to the next level? If your growth is stagnant, but you know you have the potential to take your business further, it might be the time to seriously consider hiring an ad agency or marketing firm. Getting over the plateau is going to take some financial investment as well as a well orchestrated and executed marketing plan. To do this you’ll need a dedicated team by your side or it is possible you won’t have the time or expertise to follow through.
Do my sellers need a dedicated marketing team? You might have come to a point in your real estate career that you are representing more sellers than you thought possible, sellers who require more marketing and greater exposure. If that is the case, having a real estate marketing firm by your side is the way to go. They will be able to handle the marketing for each individual listing, taking a chunk of to dos off of your plate. A true marketing partner will be able to pull the information from the MLS and run with it.
Do I have plenty of ideas? It is possible that you have a hundred ideas on propelling your business forward, what you lack is the time. Again, this is where an agency partner would come in handy. They’d analyze your ideas, provide their expertise, and execute as necessary. This ensures that your marketing is on point but most importantly, getting out the door.
Are you spending too much with no purpose? You might have not realize how much money you are spending because you don’t have the time to sort through it. If this is the case, the answer to managing your marketing dollars is to hire a marketing firm or agency. At this point, you might be spending money in so many directions, you're not even sure where all your marketing dollars are going and if they provide any return. Every business has a different financial limitation and knowing this can help a team of experts put together the best plan of action to make the most of your money. Spending money with no strategy really doesn’t do anything for your bottom line.
Making the decision to hire an advertising agency might seem overwhelming, but in can provide plenty of benefits even for single agents. As a small team or even a solo agent you have plenty on your plate and your marketing just doesn’t get the attention it deserves. You should focus on your core competencies and hire out for the rest. Attempting to do everything yourself will not only end up costing more in the long run it will become a burden, one that you ignore.
If you are interested in learning more about how an advertising agency can help take your brand to the next level, give us a call today!